Private Equity Workshop

Description

Two day hands-on training program for securities valuation. The course will provide an inside look into private equity, debt and equity financing and valuation. The course will also expose students to credit analysis.

Date / Time / Location

Friday, November 15th, 2019
8.30 am - 4.30 pm
VR 2014 (GBFI Financial Center)

Saturday, November 16th, 2019
8.30 am - 4.30 pm
VR 2014 (GBFI Financial Center)

Curriculum

Morning Session 4 Hours

General Concepts Overview:

• Risk and return overview – Why certain securities, companies are riskier than others, a look at current market risk and return profiles.
  
  
• ROIC / Cost of Capital / Excess Returns
  
  
• Capital structure overview
  • Senior vs. subordinated debt
  • Bonds
  • Equity securities
    
    
• Conceptual understanding of LBO’s
  
  
• Leveraged Finance
  
  

Afternoon Session 4 Hours

• What is EBITDA?
  • What is the difference from GAAP CF and EBITDA
  • Why is EBITDA used as a leverage metric
    
    
• What are market multiples? Specified EV/EBITDA , EV/Revenue. Explain drivers of both multiples and detail to derivation of these multiples.
  
  
• Comparable company analysis
  • Walkthrough of a company valuation model
  • Walk through of the investment memo
  • Input financials
  • Selecting comps
  • Analyze the financial data and performance of the firm. Discuss organic vs. inorganic growth.   

Day 2
Morning Session – 4 hours

Continue company valuation from the prior day

• Complete a market multiple approach (EV/EBITDA and EV/Revenue
  
  
• Complete a DCF
  
  
• Walk through cash flow assumptions
  • How should you model financial performance? 
  • CAPEX discussion. What is maintenance vs. growth?
  • Discussion on depreciation and amortization and working capital
  • NOL overview
    
    

• WACC
  • What is a strategic? What is a financial buyer? Why one is different from the other?
  • Beta. What is it? How do we derive a proper beta for our valuation?

Afternoon Session – 4 hours

• Debt analysis walk through
  • Conversation on switching gears from equity to debt. How does our view change? What are the different valuation approaches? What is important to a lender relative to an equity investor?
  • What are expectations? How does the lender view the firm? What type of expectations are explicit in the lenders analysis? What is implicit in the lenders analysis?
  • Credit stats that are important
  • Market technicals
  • LIBOR Spot vs. Swap rates.

• Close with a wrap-up and review of the 2 day training.

Registration

Please click here to register. 

Contact(s)

Laquine Johnson

Peter Caiazzo

*This event is sponsored by the Student Government Association (SGA).